In a move to curb money laundering and other illegal financial activities, the Bangko Sentral ng Pilipinas (BSP) has issued new regulations that set a ₱500,000 cap on large-value cash transactions, including withdrawals and other payouts. The new central bank regulation applies to both single...
The Bangko Sentral ng Pilipinas (BSP) is placing a new constraint on large-value cash transactions, mandating that bank and non-bank financial institutions limit cash withdrawals and other payouts to a maximum of ₱500,000, or its foreign currency equivalent. According to BSP, the move, which is a...
The Bangko Sentral ng Pilipinas (BSP) plans to overhaul its reporting governance framework by imposing higher penalties on banks based on their asset size for lapses in regulatory compliance. Instead of flagging reporting violations, the BSP is establishing clear criteria that banks should adhere...
Senate Majority Leader Juan Miguel “Migz” Zubiri expressed concern over the absence of any law that caps interest rates on online lending applications, warning that the gap leaves millions of Filipinos exposed to predatory practices. At the hearing of the Senate Committee on Games and...
The Philippines has been placed on a positive watchlist by J.P. Morgan Chase & Co. for potential inclusion in its influential emerging market government bond index, a move that could attract a new wave of foreign investment and lower the nation 's borrowing costs. In a statement on Monday,...
The Philippines’ current account deficit widened to $9.18 billion in the first half of 2025, a 13.6 percent increase from $8.08 billion in the same period a year earlier. According to the latest data from the Bangko Sentral ng Pilipinas (BSP), the deficit was driven by imports outpacing exports...
Net inflows of brick-and-mortar foreign direct investments (FDI) into the Philippines only increased to $376 million, marking its lowest hike in six months since the $356 million in December last year. Net FDI inflows declined by 17.8 percent from $457 million in June last year, according to the...
Uncertainty over price movements could delay the Bangko Sentral ng Pilipinas’ (BSP) next 25-basis-point (bps) policy rate cut to December, according to American banking giant Citi. “Barring a significant growth shock, the immediate uncertainty on inflation could push the [monetary policy...
Higher gold prices globally, coupled with the central bank’s investment income, helped the Philippines’ gross international reserves (GIR)—its stock of United States (US) dollars and other foreign currencies—recover last month from its modest decline in July. Preliminary data from the...
Singapore-based United Overseas Bank (UOB) expects lower interest rates to lift Philippine economic growth in the near term, despite lingering global challenges that would likely expand the domestic economy below the government’s goal for the year. In its Quarterly Global Outlook report for the...
Philippine banks are shoring up their loan-loss buffers as the industry’s bad loan ratio climbed to an eight-month high of 3.4 percent, due to the lingering impact of the Covid-19 pandemic and global uncertainties affecting borrowers’ ability to repay debts. According to the latest data from...
Senator Juan Miguel "Migz" Zubiri has said that as part of the curbing the country 's online gambling problem, the government must also place tighter regulations on predatory Online Lending Applications (OLAs). Zubiri said this during the Development Budget Coordination Committee briefing on...
